Post expands refrigerated foods line, acquires Bob Evans

Oppenheimer Holdings, Inc. reiterated a market perform rating and set a $77.00 price objective on shares of Bob Evans Farms in a research report on Monday, June 5th. "(BOBE) Ex-Dividend Date Scheduled for August 30, 2017" published on August 29, 2017, Forbes.com published: "Bob Evans Stock Boosted By Half-Billion Dollar Deal To Take Its Restaurants ..." on January 25, 2017. (NASDAQ:BOBE). The majority of analysts covering the equity have either a Buy or Strong Buy recommendation on the stock, yielding a consensus score of 2.30. Finally, Berenberg Bank started coverage on shares of Bob Evans Farms in a research note on Wednesday, July 19th. At the time of writing, the stock had reached $77.12.

CEO Rob Vitale noted that Evans expands Post's presence in foodservice and higher growth categories of the packaged food market. The value of the total investment in Bob Evans Farms, Inc. went from $45,000 to $84,000 a change of $39,000 since the last quarter. Insiders own 1.20% of the company's stock. The day began at US$40.88 but the price moved to US$40.88 at one point during the trading and finally capitulating to a session high of US$41.8. Mittleman Brothers Llc sold 49,862 shares as the company's stock rose 13.78% with the market. More interesting news about Bob Evans Farms Inc (NASDAQ:BOBE) were released by: Stltoday.com and their article: "Brentwood-based Post Holdings to buy Bob Evans Farms for $1.5 billion" published on September 19, 2017 as well as Globenewswire.com's news article titled: "Bob Evans Farms Announces First Quarter Fiscal Year 2018 Earnings Release and ..." with publication date: August 16, 2017. The business had revenue of $109.30 million during the quarter, compared to analyst estimates of $102.29 million. Next quarter's EPS is forecasted to be $0.79 with next year's EPS anticipated to be $2.54.

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The company also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Monday, September 4th will be issued a dividend of $0.34 per share. The rating was maintained by Oppenheimer with "Hold" on Wednesday, August 30. The median estimate represents a 1.06% increase from the last price of 41.56. Bob Evans Farms's dividend payout ratio is presently 22.08%. The current share price indicates that stock is -63.44% away from its one year high and is moving 56.26% ahead of its 52-week low. The shares were sold at an average price of $70.70, for a total transaction of $501,970.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Several institutional investors have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. purchased a new stake in shares of Bob Evans Farms during the first quarter valued at about $105,000. Flinton Capital Management LLC now owns 1,408 shares of the restaurant operator's stock valued at $101,000 after buying an additional 528 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Bob Evans Farms during the second quarter valued at about $101,000. Creative Planning now owns 1,925 shares of the restaurant operator's stock valued at $138,000 after buying an additional 761 shares during the last quarter. Bancorporation Of Montreal Can has 0% invested in Bob Evans Farms Inc (NASDAQ:BOBE). PNC Financial Services Group Inc. now owns 1,680 shares of the restaurant operator's stock valued at $109,000 after buying an additional 68 shares during the last quarter. Arizona State Retirement System now owns 10,312 shares of the restaurant operator's stock worth $669,000 after acquiring an additional 100 shares during the last quarter.

Founded in 1948, Bob Evans is a leading producer and distributor of refrigerated potato, pasta and vegetable-based side dishes, pork sausage, and a variety of refrigerated and frozen convenience food items under the Bob Evans, Owens, Country Creek and Pineland Farms brands.